University was
MINUTES OF A REGULAR MEETING OF THE BOARD OF VISITORS
OF VIRGINIA COMMONWEALTH UNIVERSITY
July 20, 1989
A regular meeting of the Board of Visitors of Virginia Commonwealth
July 20, 1989, in the Uni-
Center.
Present were Messrs. Farinholt (Rector), Beadles, Ferguson,
Latham, Meador, Morris, Siegel, Whitworth and Wurtzel; Drs.
Holland, Johnson and Moore; and Mesdames Abady and Epps. Absent wee
Mr. Lipman. Also present were Drs. Ackell, Andrako, Dewey and Ruch;
Messrs. Bruegman, Kudless, Poe and Ross; and Mrs. Price.
the Rector's absence, Mr. Wurtzel called the meeting to order
and on motion made and seconded, the Minutes of a Special Meeting of
Board, held May 18, 1989; a Regular Meeting of the Board, held May
9; a Special Meeting of the Board, held May 19, 1989; a Special
Meeting of the Board, held May 20, 1989; a Special Meeting of the
held June 9, 1989; and a Special Meeting of the Board, held June
were approved.
of the President followed:
ginia are attending the first VCU Governor's School in Medicine
June 26-August 4.
In a joint venture with Barnard College of Columbia University,
the VCU Survey Research Lab conducted a national survey of the
Twenty-four outstanding high school students from throughout Vir-
public understanding of politics. Findings confirmed that despite
dramatic increases in levels of education and the availability of
broadcast news over the last 40 years, the public appears only
marginally more knowledgeable about politics today than it did in
1940. The results of the survey were carried in The New York
Times.
A 33 1/2, foot replica of the " Goddess of Democracy" was erected on
the .lawn of the Student Commons as a show of grief and support for
'the Chinese Student*. The story was carried in The Chronicle of
Higher
The Department of-Neurology has launched a study using
cycloaporin, the transplant anti-rejection drug, to determine i
effects in treating myasthenia gravis, a muscle-weakening disease.
VCU's department is one of only nine sites in the United States
conducting the study.
The Children's Miracle Network Telethon, which aired on WWBT,
Channel 12 on June 3 and 4, raised more than $450,000 in pledges
this year. The telethon provided 21 hours of publicity for the
Children's Medical Center and Children's Hospital.
A total of 24 VCU student-athletes have been named to the Sun Belt
Conference Honor Roll for the 1988-89 academic year. To qualify,
a student-athlete must have a 3.0 grade point average. Last year,
22 VCU student-athletes were named to the Honor Roll.
7. Karen Blem, a member of the cross country team who is majoring in
Pre-medicine, has been selected as the Sun Belt Female Student-
Athlete of the Year. A rising senior, she finished second in
seven races last year and has a 4.0 grade point average.
. Four VCU baseball players have signed professional contracts fol-
lowing the 1989 major league draft.
The Department of English held the second annual Writers' Confer-
ence July 6-15.
10. The Anderson Gallery is hosting a new exhibit entitled "Coastal
Exchange II." The show is a collaborative tri-state exhibit which
includes work from artists in Virginia, Georgia and Maryland.
11. The new feature of the VCU Voice, known as "Research Briefs," will
showcase University researchers and their current projects.
12. The School of Social Work and the School of Business have joined
forces to offer a graduate level course on "Drugs in the Work-
place." The course is slated to begin in the spring of 1990.
13. Approximately 150 international students have been accepted for
the 1989-90 academic year.
14. The School of Mass Communications' Advisory Board is hosting a
roast in honor of George T. Crutchfield, chairman of the School
for the past 19 years, on July 27 in the Performing Arts Center.
On motion made and seconded, the following Resolution was approved:
WHEREAS, it has been represented to the Board of Visitors of
Virginia Commonwealth University, by duly-executed affidavit,
that Virginia Commonwealth University/Medical College of Virginia
3
Hospital Revenue Bond, Series A, 5.9% due July 1, 2006, Certifi-
cate Nos. R-323, R-767 and R-934 in the principal amount of TEN
THOUSAND AND NO/100 DOLLARS ($10,000.00) each, held by Frances
Myers Ball, which were lost in the bank vault of Sovran Bank N.A.
have been recovered; and
WHEREAS, the "Stop Transfer" against the aforementioned cer-
tificates has been removed and the replacement proceedings discontinued, and since no new certificates were issued by the bank
and the sole obligor bond issued by Seaboard Security Company,
Bond No. 801555, has been returned to the bank; and
WHEREAS, all documents relating to this matter, including an
affidavit of discovery, have been examined by the Commonwealth of
Virginia Department of the Treasury, which has found them to be
satisfactory in all respects and which has further advised that
pursuant to Section 2.11 of the Bond Resolution adopted by the
Board of Visitors of Virginia Commonwealth University on Septem-
ber 30, 1977, it is in order for the Board of Visitors of Virgin-
ia Commonwealth University to repeal the RESOLUTION which author-
ized the replacement of the lost bond certificates to the afore-
said Frances Myers Ball;
NOW, THEREFORE, be it RESOLVED by the Board of Visitors of
Virginia Commonwealth University, that the Resolution which
authorized the Treasurer of Virginia to replace the lost bonds
Nos. R-323, R-767, R-934, due July 1, 2006, in the amount of
$10,000.00 each, Virginia Commonwealth University/Medical College
of Virginia Hospital Revenue Bond, Series A, 5.9% due July 1,
2006, registered in the name of Frances Myers Ball is hereby
repealed.
On motion made and seconded, the following Resolution was
approved:
WHEREAS, it has been represented to the Board of Visitors of
Virginia Commonwealth University, by duly-executed affidavit,
that Virginia Commonwealth University/Medical College of Virginia
Hospital Revenue Bond, Series A, 5.9% due July 1, 2006, Certifi-
cate Nos. 8738 and 8802 in the principal amount of FIVE THOUSAND
AND NO/100 DOLLARS ($5,000.00) each, with coupons due January 1,
1989, held by Newbridge Securities Inc., have been lost; and
WHEREAS, Seaboard Security Company, Obligor, has issued a
Sole Obligor Bond, Bond No. 801555, in favor of Virginia Common-
wealth University and Sovran Bank N.A., Obligees, by which Obli-
gor has undertaken to indemnify and hold harmless Obligees from
any and all claims and liabilities which might arise out of the
payment of the value of the lost bonds or the issuance of
replacement bonds to the aforesaid Newbridge Securities Inc.; and
WHEREAS, all documents relating to this matter, including an
affidavit of loss and the sole obligor bond, have been examined
by the Commonwealth of Virginia Department of the Treasury, which
has found them to be satisfactory in all respects and which has
further advised that pursuant to Section 2.11 of the Bond Resolu-
tion adopted by the Board of Visitors of Virginia Commonwealth
University on September 30, 1977, it is in order for the Board of
Visitors of Virginia Commonwealth University to authorize the
replacement of the lost bond certificates to the aforesaid
Newbridge Securities Inc.,
NOW, THEREFORE, be it RESOLVED by the Board of Visitors of
Virginia Commonwealth University, that the Treasurer of Virginia
is hereby authorized to replace the lost bonds, Nos. 8738 and
8802, due July 1, 1006, in the amount of $5,000.00 each, Virginia
Commonwealth University/Medical College of Virginia Hospital
Revenue Bond, Series A, 5.9% due July 1, 2006, registered in the
name of Newbridge Securities Inc.
On motion made and seconded, the following Resolution was
approved:
WHEREAS, it has been represented to the Board of Visitors of
Virginia Commonwealth University, by duly-executed affidavit,
that Virginia Commonwealth University/Medical College of Virginia
Hospital Revenue Bond, Series A, 5.9% due July 1, 2006, Certifi-
cate No. 7659 in the principal amount of $5,000, Coupon No. 22
for $147.50 due January 1, 1989, held by Charles H. Wallace, was
lost in the mail; and
WHEREAS, Seaboard Security Company, Obligor, has issued a
Sole Obligor Bond, Bond No. 801555, in favor of Virginia Common-
wealth University and Sovran Bank, N.A., Obligees, by which Obli-
gor has undertaken to indemnify and hold harmless Obligees from
any and all claims and liabilities which might arise out of the
payment of the value of the lost coupon or the issuance of a
replacement coupon to the aforesaid Charles H. Wallace; and
WHEREAS, all documents relating to this matter, including an
affidavit of loss and the sole obligor bond, have been examined
by the Commonwealth of Virginia Department of the Treasury, which
has found them to be satisfactory in all respects and which has
further advised that pursuant to Section 2.11 of the Bond Resolu-
tion adopted by the Board of Visitors of Virginia Commonwealth
University on September 30, 1977, it is in order for the Board of
Visitors of Virginia Commonwealth University to authorize the
replacement of the lost coupon to the aforesaid Charles H.
Wallace;
NOW, THEREFORE, be it RESOLVED by the Board of Visitors of
Virginia Commonwealth University, that the Treasurer of Virginia
is hereby authorized to replace the lost coupon #22 due January
1, 1989, in the amount of $147.50, Virginia Commonwealth
University/Medical College of Virginia Hospital Revenue Bond,
Series A, 5.9% due July 1,2006, registered in the name of Charles
H. Wallace.
seconded, the Minutes of a Meeting of the
Nomination of a President held on July
1989' were.
Executive Committee meeting, the University
Policy for Administrative and Professional Faculty and Faculty
Holding At the June 15 Administrative Appointments was reviewed and recommended
to the Board for approval. On motion made and seconded, the
University Policy for Administrative and Professional Faculty and
malty Holding Administrative Appointments was approved. On
e and seconded, the Report of the Executive Committee
and the Minutes of a Meeting held June 15, 1989,
reported for the Academic Policy Committee. On
seconded, the Minutes of a Meeting held May 18,
approved. At the Committee's most recent meeting, Dr.
William Judd, Executive Director of University Library Services,
was noted that the rate of book loss in the
Library was percieved to be high but when compared to national
o be in line. Mrs. Abady stated that a recent
cussed the loss of microfilm dealing with
appears that this theft is part of a con-
f university libraries have been targets
Abady stated that the Committee reviewed and recommends
Board approval for the Commonwealth Center for the Study of Brain
6
Injury. If approved, this project will be funded by the State at
no additional costs to the University. On motion made and
seconded, the Commonwealth Center for the Study of Brain Injury
was approved.
The Committee also reviewed the Five-Year Status Report on
the University's Accreditation and reviewed possible items to be
included on the Committee's 1989-90 work plan. On motion made
and seconded, the Report of the Academic Policy Committee was
accepted.
Mr. Morris reported for the Advancement Committee which met
on July 19, 1989. On motion made and seconded, the Minutes of a
Meeting held May 18, 1989, were approved. Mr. Morris stated that
the Committee received a report on recent activities in University Relations, Media Relations and Alumni Activities. The remain-
der of the Committee's report was made during executive session.
On motion made and seconded, the Report of the Advancement
Committee was accepted.
Mr. Beadles reported for the Audit Committee. On motion made
and seconded, the Minutes of a Meeting held May 20, 1989, and
June 10, 1989, were approved. The remainder of the Committee's
report was made during executive session.
Mr. Whitworth reported for the Finance and Investment Commit-
tee. On motion made and seconded, the Minutes of a Meeting held
May 18, 1989, were approved. On motion made and seconded, the
1990-92 Operating Budget Initiatives were approved.
7
Dr. Holland reported for the Hospital Committee. On motion
made and seconded, the Minutes of a Meeting held May 18, 1989,
were approved. Dr. Holland stated that the Committee reviewed
the Hospital's expenditure and revenue budgets and that both were
higher than projections. The Committee reviewed the plans for
the automated system in Radiology. The Committee reviewed and
recommends Board approval of a contract with Baxter Healthcare
Corporation to provide the Hospital with infusion pumps and
disposables at a cost not to exceed $1,217,992. On motion made
and seconded, the contract with Baxter Healthcare Corporation was
approved with Mr. Morris abstaining.
Mr. Gregory reported for the Property Committee. On motion
made and seconded, the Minutes of a Meeting held May 18, 1989,
were approved. Mr. Gregory stated that the Committee reviewed
and recommends approval of a lease for office space for the
Department of Human Genetics with Old City Hall Associates. This
lease is for 5,347 gross square feet in the Old City Hall at a
rental rate of $373,708 for five years. On motion made and
seconded, the lease with Old City Hall Associates at the terms
described was approved.
Mr. Gregory reported that the Property Committee had reviewed
the 1990-92 Capital Project Requests Project Priority Listing
which had been approved for submission earlier in the year.
Mr. Whitworth reported for the Joint Meeting of the Finance
and Investment and the Hospital Committees. On motion made and
Minutes of a Meeting held May 18,
Seconded, the 1989
approved,
motionOn motion made and seconded, the Board convened into execu
e session to discuss Certain personnel matters involving the
performance of identifiable employees or faculty of VCU including
Faculty Appointments and Changes in Status, the Reappointment of
Affiliate and Clinical Faculty, a Status Report on the Presi-
dential Search. The Vice President of Health Sciences Search, and
to discuss the evaluation of performance of departments or
schools of VCU whore such matters regarding such individuals
might be affected by such evaluation including Audit Reports of
individually identified departments and/or schools and a report
the evaluation of the Department of Internal Audit, and
reports on individually identified schools on the medical campus,
and a Status Report on affiliation agreements, and to discuss the
acquisition or use of real property including a Status
past Campus Master Site Plan and proposed land
the VCU Foundation, and to discuss the investing
public funds including the Review of the Statement of
Objectives, Policies and Guidelines for the Operating
Pool Recommended Changes and Foundation Investment
procedures, and to discuss legal matters, active and recently
resolved litigation, and probable litigation with its attorney,
and to discuss matters relating to gifts, bequests, and
fund-raising activities including acceptance of Gifts of Oriental
9
Artwork, a Campaign Update, review of the Report of New Major
Commitments for the period of April 1, 1989 - May 31, 1989,
approval of Naming Proposals for identified gifts, a discussion
of The Campaign for VCU Announcement, a discussion on the cost of
Fund-Raising and a discussion on activities of the VCU Founda-
tion, and to discuss matters relating to honorary degrees and
special awards relating to the 1990 Commencement as authorized by
Section 2.1-344 a(1), a(3), a(6), a(7), a(8) and a(10) of the
Virginia Freedom of Information Act..
Following executive session, on motion made and seconded, the
following Resolution was approved:
Virginia Commonwealth University's Board of Visitors hereby
certifies that, to the best of each member's knowledge, (i) only
public business matters lawfully exempted from open meeting
requirements by Virginia law were discussed in the executive
meeting to which this certification resolution applies, and (ii)
only such public business matters as were identified in the
motion convening the executive session meeting were heard,
discussed or considered by the Board of Visitors of Virginia
Commonwealth University.
ROLL CALL VOTE Ayes Nays
Mr. James B. Farinholt, Jr. (Rector)
Mrs. Nina F. Abady
Mr. Richard L. Beadles
Mrs. Rozanne G. Epps
Mr. Jack H. Ferguson
Mr. Roger L. Gregory
Dr. William E. Holland
Dr. Harry I. Johnson, Jr.
Mr. Weldon H. Latham
Mr. Eric M. Lipman
At. Richard L. Meador
Dr. French H. Moore, Jr. I
Mr. Philip B. Morris I
10
Ayes Nays
Mr. Stuart C. Siegel X
Mr. F. Dixon Whitworth, Jr. X
Mr. Alan L. Wurtzel X
VOTE
Ayes: 14
Nays: 0
ABSENT DURING VOTING: 2
ABSENT DURING MEETING: 1
On motion made and seconded, the Board accepted the Report of
the General Counsel; accepted the Report of the President;
approved the Faculty Appointments and Changes in Status; approved
Reappointment of Affiliate and Clinical Faculty; accepted the
Report of New Major Commitments; approved the Naming Proposals;
and accepted the executive session Committee reports including
the approval of the Statement of Investment Objectives, Policies
and Guidelines for the Operating Pool; and the Oriental Gifts of
Art.
Mr. Farinholt thanked the Board for the confidence and trust
that was given him during his tenure as Rector. He stated that
all of the support given him was sincerely appreciated. He
expressed his appreciation to the President and his
administration and the President's Office staff for their
assistance and support as well.
On motion made and seconded, the Board convened into executive session to discuss certain personnel matters including can-
didates for the position of Rector as authorized by Section
2.1-344 a(1) of the Virginia Freedom of Information Act.
Following. executive session, on motion made and seconded, the
Resolution was approved:
Virginia
wealth University's Board of Visitors hereby
certifies that, to the best of each member's knowledge, (i) only
public business matters lawfully exempted from open meeting
requirements by Virginia law were discussed in the executive
meeting to which this certification resolution applies, and (ii)
only such public business matters as were identified in the
motion convening the executive session meeting were heard,
discussed or considered by the Board of Visitors of Virginia
Commonwealth University.
ROLL CALL VOTE
Ayes
Nays
Mr. James B Farinholt, Jr. (Rector)
X
Mts. Nina F. Abady
X
Mr. Richard L. Beadles
X
Mrs. Rozanne G. Epps
X
Mr. Jack H. Ferguson
X
Mr. Roger L. Gregory
X
Dr. William E. Holland
X
Dr. Harry I. Johnson, Jr.
X
Mr. Weldon H. Latham
Absent
Mr. Eric M. Lipman
Absent
Mr. Richard L. Meador
X
Dr. French H. Moore, Jr.
Absent
Mr. Philip B. Morris
X
Mr. Stuart C. Siegel
X
Mr. F. Dixon Whitworth, Jr.
X
Mr. Alan L. Wurtzel
Absent
VOTE
AYES:
12
NAYS:
0
ABSENT DURING VOTING:
4
ABSENT DURING MEETING: 1
Mr. Whitworth reported on behalf of the Nominating Comittee.
French Moore's name was submitted for nomination as Rotor
Board. On motion made and seconded, Dr. Moore was
unanimously elected as the Board's Rector.
12
Dr. Moore thanked the Board for the confidence placed in him.
He thanked Mr. Farinholt for the excellent job he had done as
Rector.
Dr. Moore asked Mr. Whitworth to Chair the Nominating Commit-
tee to select the Board's officers and asked Mr. Ferguson and Dr.
Holland to serve as members.
The meeting was adjourned at 1:45 p.m.
Philip B. Morris, Secretary
Approved:
French H. Moore, Jr., Rector
